Thanks a lot. I never knew this before.
Wow! You have no idea how easy and helpful that was!
Thank you. It saved me a lot of time and heartache!
Worked perfectly. I was going nuts trying to figure it out!
OMG thank you! That was my problem. You are my life saver!Other:

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"Or long-term land contract..."

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I found this info on the irs.gov website...this should answer your question!
Q. Can a taxpayer claim the first-time homebuyer credit if the purchase is pursuant to a seller financing arrangement (for example, a contract for deed, installment land sale contract, or long-term land contract), and the seller retains legal title to secure the taxpayer`s payment obligations?
A. If the taxpayer obtains the "benefits and burdens" of ownership of a residence in a seller financing arrangement, then the taxpayer can claim the credit even though the seller retains legal title. Factors that indicate that a taxpayer has the benefits and burdens of ownership include: 1. the right of possession, 2. the right to obtain legal title upon full payment of the purchase price, 3. the right to construct improvements, 4. the obligation to pay property taxes, 5. the risk of loss, 6. the responsibility to insure the property and 7. the duty to maintain the property. (New 7/2/09)

"Above and in my case of my land contract i meet all requirements..."

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Ok here is what i have gathered....i spoke to an h&r block person and they told me the same as what is stated above and in my case of my land contract i meet all requirements. I have to have my own insurance, it is my duty to obtain the property, and all of that good stuff lol...so i am pretty postive that you can get the credit. it is 10 percent of your purchase price up to 8000 dollars that you can get so...

"Do qualify for the tax credit as long as the buyer qualifies that is..."

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Hey Susan - . Yes - contracts for deeds (called Land Contracts I some states) do qualify for the tax credit as long as the buyer qualifies that is. Scott MacDonald Tradewinds Development Group, LLC 248-601-1187 (office) 248-613-2811 (mobile) 248-751-6101 (fax) www. Do contracts for deeds qualify for homebuyers tax credit. I need a little help/direction before I can start. Any nuggets of wisdom would be absolutely great and very much appreciated. Would you consider giving me a couple pointers.

"Somewhere in the contract state:`` that the buyer has all..."

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Yes!!, C-4-Deeds do qualify. Make sure that the buyer is responsible for paying the property tax and that he claims homestead. (so the there is no way the IRS can possible say it is a rent to own) Somewhere in the contract state:`` that the buyer has all the burdens and benefits of home ownership"` that is the exact language used when they determined that a C-4-deed is not to be view any differently than a person with a conventional mortgage.

" do va loans qualify for 8 000 tax credit 1st time home buyers..."

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Yes, You would get the $8000, and we do VA loans. There is no charge for this service and I will send you a pre-approval letter to present with your offer. Choose the first option "Full Secure 1003 Application". I will get you pre-approved asap. Phone 770-309-0939 Toll Free 866-742-8400 Fax 678-999-3299. Do va loans qualify for 8 000 tax credit 1st time home buyers. How might I best go forward. I am very grateful for your help.

" who qualify for the first time home buyers tax credit in canada..."

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Gov and on the top right under "search" type in first time home buyer tax credit and you can find questions and answers there. Who qualify for the first time home buyers tax credit in canada. There are so many factors to consider. Would you be kind enough as to give me some pointers as what to look for or avoid. I am very grateful for your help.

"Contracts for deeds do qualify for the homebuyers tax credit..."

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Yes, contracts for deeds do qualify for the homebuyers tax credit, according to the IRS it is an installment sale. Do contracts for deeds qualify for homebuyers tax credit. I need a little help/direction before I can start. ? Any nuggets of wisdom would be absolutely great and very much appreciated. Would you consider giving me a couple pointers.

"I called the irs and asked them that same question..."

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I called the IRS and asked them that same question. They told me that as long as you take ownership of the property and are responsible for the taxes and "stuff" as long as the sale meets the other requirements you would qualify.

"I should be punished for getting a land contract to benefit an individual..."

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I am wondering the same thing...I am in a contract, the same as if with a bank, the homeowners insurance is in my name and I pay property taxes.....I dont think I should be punished for getting a land contract to benefit an individual, rather than a bank.

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